With the increasing proportion of wind power, energy storage systems play a role in the new electrical utilities system by effectively alleviating issues such as the imbalance between power supply and demand, greatly improving the flexibility of the electrical utilities system, and ensuring the stable operation of the electrical utilities system.

At the same time, under the goals of carbon peak and carbon neutrality, energy storage development not only reduces the impact of renewable energy generation on the power grid, reduces the need for power grid transformation, but also greatly promotes the integration of renewable energy, thereby optimizing the energy structure.

Datacenters, communication energy storage, power energy storage, as important components downstream of the energy storage industry, play a crucial role in their respective specific fields. In the era of 5G communication, artificial intelligence, and big data, the significant increase in power demand for data transmission, storage, and processing in communication networks and datacenters greatly drives the industry's demand for energy storage.

The evolution of the market quietly nurtures the birth and growth of enterprises. Recently, China Tower, the global leader in energy storage business for big data and communication industries, officially submitted its listing application to the Hong Kong Stock Exchange, stepping into a new stage of corporate growth.

Under forward-looking layout, core financial data achieves high-quality growth.

According to the Securities Times app, China Tower was established in 2011, focusing on the design, research and development, manufacturing, and sales of energy storage batteries and systems, with a history of over a decade.

At the beginning of its establishment, Shuangdeng Group established a solid foundation for its communication base station energy storage business by entering the field and establishing long-term cooperation relationships with leading Chinese communication operators and equipment suppliers, such as China Mobile, China Unicom, China Telecom, and China Tower.

In 2018, with the penetration and promotion of big data technology, the company started to establish cooperation relationships with large technology companies, datacenter operators, including Alibaba, JD.com, Baidu, Wangsu, and Chindata, achieving rapid expansion of datacenter energy storage business.

To date, Shuangdeng Group has accumulated rich experience in operating communication base stations, datacenters, power plants, power grids, and other scenarios, and has formed the current diversified business layout.

With the rapid development of artificial intelligence and big data technology, the demand for energy storage products in communication base stations and datacenter scenarios has surged, leading to the rapid growth of the company's business in this field.

Shuangdeng Group seized the market opportunities brought by both trends and has taken a leading position in the segmented market. Currently, communication base stations and datacenters constitute the company's main source of revenue, accounting for approximately 80% of its revenue.

On the other hand, in terms of product segmentation, Shuangdeng Group has simultaneously laid out lithium-ion batteries and lead-acid batteries, adopting a strategy of integrating multiple battery technologies. The revenue proportion of lithium-ion batteries is generally increasing, and according to the company's plan, it will continue to expand into lithium-ion batteries, with the proportion of lithium-ion battery revenue expected to continue to rise, forming a dual-wheel strategy of lithium-ion batteries and lead-acid batteries.

By early layout in scenarios like communication base stations and datacenters, Shuangdeng Group has now entered a period of reaping the benefits of business development, with financial performance showing a high-speed growth trend.

According to the Zhitong Finance and Economics APP, in the fiscal years 2021-2023, Shuangdeng Group achieved a growth in revenue from 2.44 billion yuan to 4.26 billion yuan, representing a compounded annual growth rate of 32.1%, with a compounded annual growth rate in gross margin reaching 371.1% during the same period. As of the first quarter of 2024, despite a slight year-on-year decline in revenue, the company's profit scale still achieved rapid high-quality growth.

As of the fiscal years 2021-2023 and the first quarter of 2024, Shuangdeng Group achieved gross margin rates of 7.5%, 16.9%, 20.3%, and 20.6%, respectively, showing a continuous upward trend year-on-year.

In terms of profit performance, in the fiscal years 2021-2023, the company achieved net income of -53.651 million yuan, 0.281 billion yuan, 0.385 billion yuan respectively, with net income margins of -2.2%, 6.9%, 9.0%; as of the end of 2023 and the first quarter of 2024, the company achieved net income of 71.493 million yuan, 91.581 million yuan, with net income margins of 7.9% and 11.3% respectively.

Since turning losses into profits in 2022, the company's profit level has continued to maintain high-quality growth, with all core financial data continuously improving.

As of the fiscal years 2021-2023 and the first quarters of 2023 and 2024, Shuangdeng Group's cash and cash equivalents were 99.032 million yuan, 0.27 billion yuan, 0.48 billion yuan, 0.415 billion yuan, and 0.493 billion yuan respectively, providing a guarantee for the company's sustainable development.

By taking advantage of the first-mover advantage in the market, there is a possibility of benefiting from market dividends.

With the early advantage in occupying communication base stations, data centers, and other segmented scenes, Shuangdeng Group has now become a leader in market share and corporate clients in the industry.

According to Frost & Sullivan data, in terms of shipment volume, in 2023, Shuangdeng Group ranked first among global communication and data center energy storage battery suppliers, with a market share of 10.4%.

Among the top ten global communication service providers and equipment suppliers, Shuangdeng Group serves 5 of them; by the end of 2023, the company served nearly 30% of the world's top 100 communication service providers and equipment suppliers, as well as China's top five communication service providers and equipment suppliers. This includes serving 50% of China's top ten self-owned data center enterprises and 60% of China's top ten third-party data center enterprises.

It is worth mentioning that from 2021 to 2023, the average duration of the five major clients served by Shuangdeng Group has exceeded nine years.

With a deep understanding of the industry and customer needs, Shuangdeng Group, through the development of industry-leading technology, and a best balance between safety, cost-effectiveness, and performance, is able to seize the huge growth potential of the industry.

With the increasing global emphasis on clean energy and sustainable development, the energy storage market is experiencing unprecedented development opportunities. According to Frost & Sullivan report, the global cumulative generator capacity of energy storage is expected to increase from 478.5 GWh in 2023 to 6,393.0 GWh in 2030, with a compound annual growth rate of 44.8%.

In particular, the growth in the Chinese market is particularly significant. In terms of new installed capacity, the size of the Chinese energy storage market is expected to increase from 48.4% of the global market in 2023 to 52.2% in 2030. In the future, China will continue to consolidate its leading position in the global energy storage installation field.

Meanwhile, as the industry structure moves from decentralized to centralized, leading participants are expected to achieve a stronger position, benefiting from the first-mover advantage and achieving a Matthew effect expansion, gaining larger market share.

For future development, Shuangdeng Group stated in its application materials that it will continue to consolidate its existing advantages. On one hand, it will adhere to a customer-centric approach, deepen cooperation with existing recognized customers, and increase market penetration. On the other hand, it will further expand the development of energy storage business, datacenter business, consolidate customer trust, and maintain a leading market position.

Furthermore, the company will continue to focus on research and development, strengthen the R&D team, enhance the allocation of R&D resources, and establish a more efficient research and development platform. At the same time, while deepening the layout and penetration of existing markets, it will actively invest in strategic markets such as Europe, Southeast Asia, and Africa, to further realize business expansion overseas and expand global business presence.